Evolent Health Reports Above-Expectations Revenue Growth and Strong EBITDA for Q1 2024
Friday, 10 May 2024, 02:30
Highlights:
Evolent Health exceeded Q1 revenue expectations with strong membership growth and new customer arrangements.
Financial Performance:
- Revenue totaled $639.7 million, up 49.6% year over year.
- Adjusted EBITDA was $54.1 million, in line with guidance.
- Strong cash position with $165.1 million in cash and equivalents.
Strategic Priorities:
- Focus on organic growth, profitability expansion, and disciplined capital allocation.
- Successful M&A integration and technology innovation agenda in progress.
- Confident in achieving $300 million exit run rate EBITDA target by year-end.
Outlook:
Despite industry demand and market pressures, Evolent remains optimistic about its future and committed to value creation for all stakeholders.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.